Lemon Tree Hotels signs two new properties in Gujarat and Uttarakhand
Lemon Tree Hotels signed a license agreement for a new hotel in Surat Airport and a franchise agreement for a hotel in Haridwar, expanding its presence in Gujarat and Uttarakhand.
The signing of new properties is a positive development, but the impact is moderate as it represents a gradual expansion rather than a major shift in the company's operations.
The announcement discusses the signing of new properties, which indicates business expansion and positive growth for the company.
* Lemon Tree Hotels has signed a License Agreement for Lemon Tree Hotel, Surat Airport and a Franchise Agreement for Keys Prima by Lemon Tree Hotels, Haridwar. * Lemon Tree Hotel, Surat Airport will have 110 rooms, a restaurant, banquet and meeting facilities, a swimming pool, and a spa. It will be managed by Carnation Hotels Private Limited. * Keys Prima by Lemon Tree Hotels, Haridwar will have 60 rooms, a restaurant, a conference hall, a fitness center, a spa, and a swimming pool. It will be franchised under Lemon Tree Hotels Limited. * Vilas Pawar, CEO, commented that these signings will strengthen their presence in Gujarat and Uttarakhand.
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Lemon Tree Hotels Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Lemon Tree Hotels Limited. Read the original for the full detail.